share ownership. Furthermore, creditor control rights during bankruptcy (through debtor-in-possession financing and large … stay until filing), the median incumbent does not reduce his stock ownership as the firm approaches bankruptcy …

Exploiting the random assignment of corporate bankruptcy filings, we estimate financial costs of judicial inexperience … cases spend 19% more time in bankruptcy and realize 12 percentage point lower creditor recovery rates. Judges' learning …

We document the valuation effects of bankruptcy announcements through technological relatedness. The average value of … firms that intensively cite the technologies of a bankrupt firm decreases by 1% around the time of the bankruptcy … strategic alliances. The effects are more pronounced if the bankruptcy filing is likely a result of aging technologies possessed …

incentivizing key employees in bankruptcy …

the Leland-Toft endogenous bankruptcy model has strong explanatory power on the debt recovery observed in the market. Our …, we find that both agency problems and heterogeneous bankruptcy costs weaken the explanatory power of the model. Our study … suggests structural models that incorporate the role of managers in endogenously determining the bankruptcy boundary provide …

than to file for bankruptcy. The effect is stronger when loans are over-secured and when the expected bankruptcy costs are …

Financially distressed and insolvent firms file for bankruptcy to either reorganize or liquidate under court … supervision. Fundamentally, bankruptcy law is designed to resolve creditor coordination and holdout problems. It not only sets up … assets to other users. Although an efficient bankruptcy system can help mitigate bargaining frictions and maximize asset …

, patents in bankruptcy. The selling pattern is driven almost entirely by firms with greater use of secured debt, and the … bankruptcy have implications for technology diffusion--the sold patents diffuse more slowly under new ownership and are more …

the evolution of debt composition, non-performing loans, defaults, and bankruptcy filings. We then describe the legal and … recent reforms of China's bankruptcy law. Finally, we discuss the main challenges faced by China in the implementation of …